DGKV Advises China Eximbank on Financing of Bulgarian Development Bank

DGKV acted as local counsel to Export-Import Bank of China (“China Eximbank”) with regard to a EUR 50 million loan facility extended for on lending to customers of Bulgarian Development Bank for mid or short-term trade financing transactions. The agreed funds shall be used to support Bulgarian enterprises, to finance commercial operations, as well as to support the economic cooperation between Bulgaria and China. This is the first facility agreement between the two institutions after they concluded a Financial Cooperation Agreement in 2014, which envisages joint financing of key projects or areas.